Spain Geography, Culture, and Economy

The kingdom of Spain is located on the Iberian Peninsula of Europe and is the second-largest country in the European Union. Spain became the world’s first global empire during the second millennia, leaving a cultural and linguistic legacy that now comprises almost 600 million Spanish speakers around the world, making it the second most spoken language on the planet, after Mandarin Chinese.

Spain has one of the largest economies in the world and is part of the eurozone. However, it continues to suffer from weak employment rates, largely as a result of its big informal economy and a relatively poor education system in comparison to others amongst OECD nations.

Tourism is a big part of its economy, making it the second most visited country in the world. Its geographic location, attractive climate, history, and vibrant culture bring in enough tourist dollars to make the industry almost 5% of the country’s total GDP.

With a population of 46 million (largely Roman Catholics), Spain has several centers of population, including its capital Madrid, as well as cities such as Barcelona, Sevilla, Valencia, and Bilbao. There are distinct ethnic and linguistic identities represented within the nation, including the Basques, Catalans, Galicians, and Andalusians.

2021
April 2Good Friday
May 1Labor Day / May Day
August 15Assumption of Mary
August 16Assumption observed
October 12Hispanic Day
December 6Constitution Day Holiday
December 8Immaculate Conception
December 25Christmas Day
  • S.A. (Sociedad Anónima)
  • S.L. (Sociedad Limitada)
  • S.L.N.E. (Sociedad Limitada Nueva Empresa)
  • S.A.D. (Sociedad Anónima Deportiva)
  • S.L.L. (Sociedad Limitada Laboral)
  • S.C. (Sociedad Colectiva)
  • S.C.P. (Sociedad Civil Privada)
  • S.Cra. (Sociedad Comanditaria)
  • S.Coop. (Sociedad Cooperativa)
  • Corporate Tax: 25% (in mainland), 4% (in Canary Islands)
  • Income Tax (Lowest Marginal Rate): 19%
  • Income Tax (Highest Marginal Rate): 52% (in Navarre), 45% (in mainland)
  • VAT/GST/Sales Tax: 21% (standard rate), 10% or 4% (reduced rates)
  • Major banks (Local Bank)
  • Banca March (Local Bank)
  • Banca Pueyo (Local Bank)
  • BBVA (Local Bank)
  • Banco Caixa Geral (Local Bank)
  • Bancofar (Local Bank)
  • Banco Pastor (Local Bank)
  • Banco Popular Español (Local Bank)
  • Banco Sabadell (Local Bank)
  • Banco Santander (Local Bank)
  • Bankia (Local Bank)
  • Bankinter (Local Bank)
  • Bankoa (Local Bank)
  • CaixaBank (Local Bank)
  • Deutsche Bank (Local Bank)
  • EVO Banco (Local Bank)
  • ING Direct (Local Bank)
  • Novo Banco (Local Bank)
  • Popular Banca Privada (Local Bank)
  • Renta 4 Banco (Local Bank)
  • Targobank (Local Bank)
  • Triodos Bank (Local Bank)
  • Cajas (savings banks) (Commercial Bank)
  • Bilbao Bizkaia Kutxa (BBK) (Commercial Bank)
  • CAM (Commercial Bank)
  • Caixa de Balears, “Sa Nostra” (Commercial Bank)
  • Caixa de Catalunya (Commercial Bank)
  • Caixa de Manresa (Commercial Bank)
  • Caixa Rural Galega (Commercial Bank)
  • Caixa de Terrassa (Commercial Bank)
  • Caixa d’Estalvis i Pensions de Barcelona, “la Caixa” (Commercial Bank)
  • Caixa Galicia (Commercial Bank)
  • Caixa Penedès (Commercial Bank)
  • Caixa Tarragona (Commercial Bank)
  • Caja Cantabria (Commercial Bank)
  • Caja Circulo (Commercial Bank)
  • Caja de Arquitectos (Commercial Bank)
  • Caja de Burgos (Commercial Bank)
  • Caja de Ingenieros (Commercial Bank)
  • Caja Duero (Commercial Bank)
  • Caja España (Commercial Bank)
  • Caja Madrid (Commercial Bank)
  • Caja Murcia (Commercial Bank)
  • Caixa Ontinyent (Commercial Bank)
  • Caja Navarra (Commercial Bank)
  • Caja Vital (Commercial Bank)
  • Cajastur (Commercial Bank)
  • Cajasur (Commercial Bank)
  • Kutxa (Commercial Bank)
  • Unicaja (Commercial Bank)

Aadmi can support you with your expansion to Spain. Our team of experts in country manage every aspect of your expansion from incorporation, accounting, legal, and even administrative concerns.  Matched with Global People Strategist’s powerful labor compliance software, your company is in good hands.

Contact us today for more information about how your company can benefit from using Aadmi as your global expansion partner.

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